Overview
U.S. out-of-home advertiser's Q1 revenue rose 10% yr/yr, beating analyst expectations
Net income swung to profit from loss in prior-year period
Growth driven by strong billboard and transit segment performance, higher digital revenues
Outlook
OUTFRONT Media did not provide specific guidance or forecasts for future periods
Result Drivers
BILLBOARD SEGMENT - Revenue growth driven by higher proceeds from condemnations and increased average revenue per display, including digital billboard revenues
TRANSIT SEGMENT - Higher average revenue per display boosted transit revenues, partially offset by changes in franchise contracts
COST MANAGEMENT - SG&A expenses increased due to higher compensation-related expenses, partially offset by lower credit card usage by customers
Company press release: ID:nPn9jlTcFa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$429.60 mln
$420 mln (4 Analysts)
Q1 EPS
$0.11
Q1 Net Income
$19.10 mln
Q1 Adjusted FFO
$61 mln
$0.23 (1 Analyst)
Q1 FFO
$63.50 mln
Q1 Operating Income
$55.90 mln
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)